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Friday, January 29, 2010 at 10:46 AM
10:46AM

6 Long Islanders arrested on mortgage fraud charges, accused of running false pay stubs mill

DateFriday, January 29, 2010 at 10:46AM

6 Suffolk County (NY) residents were arrested by the DA’s Mortgage Fraud Unit detectives’ for creating fake paystubs and federal W-2 forms to fraudulently obtain $5.9 million in fraudulent mortgages from Emigrant Mortgage Company, Wells Fargo Home Mortgage, National City Mortgage and other lenders.They are Martha Huezo, Luis Lino, Irma Tocco, Victor Jinete, Connie Salas and Thomas Rosales,

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Print ArticlePrint Article | | | | AuthorThe Editor - Ian Shuter - ACFE, DMS
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10:16AM

Unlicensed Maryland mortgage broker sentenced in felony theft case

DateFriday, January 29, 2010 at 10:16AM

David Young Park, 43, the former president of Capital City Financial Group in Ellicott City, was sentenced Park to five years in jail with all but 18 months suspended and ordered to make restitution to the victim in the amount of $116,556. Park assisted the victim with the refinance of her home from which she intended to use the more than $100,000 in equity to purchase a commercial condo for her business. Park obtained the victim’s proceeds from the title company and used them for himself

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Print ArticlePrint Article | | | | AuthorThe Editor - Ian Shuter - ACFE, DMS
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9:36AM

Loan modification company President charged with defrauding 165 victims

DateFriday, January 29, 2010 at 9:36AM

Irvine loan modification company president Kahram Zamani was arraigned today for defrauding and victimizing 165 distressed homeowners out of $177,000 by fraudulently promising to save their homes in exchange for an up-front fee. Between February 2008 and December 2009, Zamani, a licensed real estate broker, is accused of owning and running Infinity Group Services (Infinity), a loan modification company that targeted distraught homeowners.

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Print ArticlePrint Article | | | | AuthorThe Editor - Ian Shuter - ACFE, DMS
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9:17AM

Former Alta Loma realtor sentenced to 5 yrs in CA state prison

DateFriday, January 29, 2010 at 9:17AM

Mojgan Cox also known as “Mona,” is a former real estate broker for ReMax Allegiance and owner of Exclusive Escrow Services. She is the third defendant to plead guilty in this matter. The case involved laundering money from an escrow trust account into a corporation opened up by her son, Jesse Cox. The money was used to purchase a home in Yucaipa using a “straw buyer”.

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Print ArticlePrint Article | | | | AuthorThe Editor - Ian Shuter - ACFE, DMS
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9:09AM

New Jersey man charged with ID theft and mortgage fraud

DateFriday, January 29, 2010 at 9:09AM

Union County (NJ) Prosecutor Theodore J. Romankow announced that John Melchionna was arrested and charged with 13 separate counts after an investigation revealed that he used another man’s identity to secure $270,000 in mortgage loans. He faces charges of theft by deception, identity theft and forgery, said Romankow. The charges were filed on Monday following an investigation by the Prosecutor’s Office and Linden Police Department Detective Mark Case.

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Print ArticlePrint Article | | | | AuthorThe Editor - Ian Shuter - ACFE, DMS
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Thursday, January 28, 2010 at 1:04 PM
1:04PM

Two arrested in Lithia, FL in mortgage fraud allegations

DateThursday, January 28, 2010 at 1:04PM

In 2005, Jeffrey Ryan Ayers, a licensed mortgage broker, submitted and received more than $200,000 in a mortgage loan for a property located in Riverview, Fla. Ayers, with co-defendant Allison Ann Dupree’s assistance, utilized and submitted fraudulent information during the course of the transaction. The home went into foreclosure in 2008.

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Print ArticlePrint Article | | | | AuthorThe Editor - Ian Shuter - ACFE, DMS
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12:15PM

Indianapolis woman sentenced to 71 months in prison for mortgage fraud

DateThursday, January 28, 2010 at 12:15PM

Donella Locke engaged in a series of fraudulent real estate transactions either in her capacity as a real estate broker or an investor. The real estate transactions concerned high dollar homes priced between $300,000 and $1.4 million. For five properties, Locke used a false social security number to the lender, and generated false VOE’s, false VOR’s, used false business names, submitted false income amounts, and used names of people she knew without their permission on false residential leases submitted to lenders.

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Print ArticlePrint Article | | | | AuthorThe Editor - Ian Shuter - ACFE, DMS
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10:28AM

5 indicted in Tarrant County (TX) mortgage fraud allegations

DateThursday, January 28, 2010 at 10:28AM

Chekeelah Phelps, 45, of Mansfield; Clayton Bennett, 66, of DeSoto; Munzer Kawasmi, 30, of Arlington; Deborah Fernie, 48, of Keller; and Kelvin Kidd, 50, of Mansfield are accused of an elaborate scheme that primarily involved falsified loan documents originating in the sub-prime market. Four of the five defendants have professional ties to the mortgage industry and to one another.

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Print ArticlePrint Article | | | | AuthorThe Editor - Ian Shuter - ACFE, DMS
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The information reproduced here has been obtained from various public sources and has been compiled as a service to those interested in the area of mortgage fraud. The accuracy of the information has not been independently verified and as a result, no negative inferences about individuals referenced in the information or their involvement in any scheme to participate in mortgage fraud should be concluded as a result.